Barrett Business Services (NASDAQ:BBSI) Upgraded at StockNews.com

StockNews.com upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts also recently weighed in on the stock. Roth Mkm raised their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barrington Research raised their price target on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

Barrett Business Services Stock Performance

Shares of NASDAQ BBSI opened at $42.23 on Tuesday. Barrett Business Services has a fifty-two week low of $26.60 and a fifty-two week high of $43.29. The company has a 50 day simple moving average of $37.97 and a two-hundred day simple moving average of $35.21. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.39 and a beta of 1.39.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is currently 16.89%.

Insider Activity at Barrett Business Services

In related news, Director Joseph Stephen Clabby bought 1,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the acquisition, the director now owns 11,327 shares of the company’s stock, valued at $487,174.27. This trade represents a 16.87 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Carley sold 4,584 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BBSI. CWM LLC boosted its stake in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after acquiring an additional 841 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after acquiring an additional 702 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Barrett Business Services during the 3rd quarter worth $34,000. Westside Investment Management Inc. purchased a new position in shares of Barrett Business Services during the 3rd quarter worth $34,000. Finally, Huntington National Bank purchased a new position in shares of Barrett Business Services during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.